Clarus Reports Preliminary Q3 Results, Raises Full-Year Outlook; Shares Rise Pre-Bell

9:24AM ET 10/18/2021 MT Newswires
Clarus Corporation (CLAR) reported preliminary Q3 sales of $107 million to $108 million, up from $64.5 million in Q3 of 2020 and ahead of the Street estimate provided by Capital IQ of $100 million.

The maker of outdoor equipment and lifestyle products said Black Diamond and Sierra sales are expected to increase approximately 19% and 100% respectively, compared with the year-ago quarter. Rhino-Rack sales are expected to be approximately $19.5 million for the quarter, and adjusted EBITDA of $18.5 million to $18.8 million is expected, compared with $9.1 million in Q3 of 2020.

The company also said it now expects 2021 adjusted EBITDA of approximately $57 million from previous guidance of $52 million, and maintains its forecast for Rhino-Rack to contribute approximately $6 million in adjusted EBITDA for H2 of 2021, and for capital expenditures to be approximately $8.5 million in 2021.

Shares of Clarus are up nearly 3% in premarket trading.